Seoul, Aug 2 (IANS): South Korean tech giant LG is planning to launch an affordable 5G device in markets like South Korea and the US in the second half of 2020.

The company is looking ahead to strengthen its original design manufacturer (ODM) strategy and released a device that can be available to a larger market, reports Android Headlines.

With the upcoming mass-market 5G smartphones, LG is trying to get the early mover advantage in the markets like the US and South Korea.

The company is also working closely with chipset makers for offering best-in-class experience even on the affordable devices.

In addition, the company's Mobile Communications division is working on improving the profitability of its business and becoming more competitive in the current market.

Recently, LG Velvet 5G with Dimensity 800 SoC was spotted in a Google Play Console listing. The LG Velvet 5G launched earlier this year is one of the best mid-range 5G smartphones with a Snapdragon 765G SoC.

AThe company is also working on a new Velvet smartphone featuring the latest Snapdragon 690 5G Mobile Platform.